New Report HNWI in Indian Wealth Management Industry - Trends, Analysis and Forecast (2010-2015) Published by MarketsandMarkets

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Nov 01, 2010, 08:25 ET

DALLAS, November 1, 2010 /PRNewswire/ --

- Tax Planning and Advisory Asset Management are the Most Demanded Services Among HNWIs

Advisory asset management and Tax planning are the most demanded services among High Net Worth Individuals (HNWIs) in India, followed by financial planning. Fixed Income Products dominate among HNWI investment in different asset classes, with around 65% of total investment going into fixed income products, says the new report by MarketsandMarkets (marketsandmarkets.com) titled HNWI of Indian Wealth Management Industry - Trends, Analysis And Forecast (2010-2015)

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India has registered tremendous growth in terms of the population of HNWIs and their wealth after crisis. HNWIs in India constitute 8% of the total wealthy households but constitute around 45% of the total wealth. Among the total HNWIs in India, only 20% consult financial advisors.

Also, around 69% of the Indian HNWI population is in the age group of 30-55, which has long term investment plans and thus requires financial planning and advisory asset management. Around 39% of the HNWI wealth has been accumulated on the basis of business income, leading to demand in Tax planning solutions which can help to protect wealth and mitigate risk. Indian HNWIs have a limited understanding of the risk and returns associated with investment products and thus require personal attention and assurance from wealth managers which has led to a growing importance of face to face relationship management.

From traditionally concentrating on metro cities, wealth managers have now started focusing on Tier II and Tier III cities by setting up their operations there. Among the institutions operating in the wealth management industry in India, banks are largely dominating the space with players like ICICI, HDFC, and Kotak.

HNWI Of Indian Wealth Management Industry - Trends, Analysis And Forecast (2010-2015) is a study of the needs and demands of HNWIs in India . The report will provide new insights and give recommendations for wealth management firms intending to capitalize on the HNWIs in India. Intensive bifurcation of wealth management products and services needs will enable product development and provide a roadmap to the future of novel wealth management practices for the HNWIs.

    Key findings from the report

    - HNWIs consist of 8% of the total wealthy households but
      constitute around 45% of the total wealth. Among the total HNWIs in
      India, only 20% of the HNWIs take advice from financial advisors.
    - Advisory asset management and Tax planning is the most demanded
      service among HNWIs followed by Financial Planning
    - Investment in Fixed income products accounts for a maximum
      percentage of HNWI investment in various investment products.
    - Business income contributes the maximum (39%) wealth for HNWIs in
      India and requires solutions which can help to protect wealth and risk
      mitigation
    - The majority (69%) of the HNWI population lies in the age group
      of 30-55 and they prefer wealth accumulation, and risk mitigation and
      require sophisticated products which can offer high returns in a short
      period of time.
    - India's HNWIs wealth will grow by a CAGR of 12% and it will reach
      close to $949 billion by 2015.
    - Wealth manager now started focusing on Tier II and Tier III
      cities.
    - Top players in the Indian wealth management Industry include
      ICICI, HDFC, and Kotak


    SCOPE OF Study
    Market Overview

This section talks about the wealth and population of HNWIs in India, and the various products and services offered to them. While commenting on the opportunities among Indian HNWIs for wealth management firms, it also discusses winning imperatives for the firms.

Market Dynamics

This section discusses in detail the investment of HNWIs in various available asset classes, which have been broadly classified as equity and equity related products, fixed income products and alternative investment products.

It deeply analyses the behavior, needs and demands of HNWIs as a whole as well as demands based on age and source of wealth accumulation.

The section also analyses the various drivers for HNWIs wealth creation, the forecast of HNWI wealth and the restraints and challenges faced by the wealth management companies operating in India.

Trends of HNWIs in India

This section talks on various trends of HNWIs in India such as concentration of HNWIs in Tier II and III cities and HNWIs selection criterion for wealth manager.

Competitive Landscape

This section discusses the various players in the banking as well as non-banking sectors in India. It also discusses the market share of wealth management firms in India in terms of AUM and clients per advisor, and benchmarking of various firms in the country.

Company Profiles

This section describes companies offering wealth management services in India, and include an overview, primary business, wealth management operations in India, strategies followed by them and recent developments related to wealth management operations in India.

About MarketsandMarkets

MarketsandMarkets (M&M) is a global market research and consulting company based in the U.S. We publish strategic advisory reports and serve as a business intelligence partner to Fortune 500 companies across the globe. MarketsandMarkets also provides multi-client reports, company profiles, databases, and custom research services.

M&M Banking and Financial Services Practice recognize the challenges that financial institutions face while bringing the right products to market. Our reports and consulting practice provides a unique perspective allowing financial institutions to understand and strategize to achieve their product goals. Through a mix of case studies, primary research, and business modeling we provide a 360 degrees view to identify how our clients can create, capture, and retain the value of their products and outthink the competition.

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